Chilean Digital Peso Would Need to Work Offline, Central Bank Governor Says
Banco Central de Chile Governor Rosanna Costa reportedly said that Chile’s central bank digital currency (CBDC) would need to accept offline payments, but added that no final decision had been taken on whether to issue a digital form of the Chilean peso. She said that an offline system should “allow the authorities to trace the transaction afterwards,” while safeguarding personal data, adding that the technology to do so was “not necessarily efficient today.” [Read more]
Wary of Crypto, Tanzania Shifts Closer to Own Digital Currency
Bank of Tanzania Governor Florens Luoga reportedly said that the central bank is edging closer to introducing a CBDC to help counter the rising popularity of cryptocurrencies in the nation. “It’s important for us to provide a central bank digital currency as a safe alternative because many people are being affected by cryptocurrency speculators.” The bank can’t ignore the technological advancement of money, and it has sent its officials to countries with more experience in CBDCs, including Nigeria, to learn from them. [Read more]
eNaira Upgrade: CBN to include bills payment
Central Bank of Nigeria Lagos Branch Controller Bariboloka Koyor reportedly there is going to be an upgrade on the eNaira speed wallet app that will allow it to do transactions such as paying for utilities and even flight tickets. Going forward it will also be used by the government to disburse funds that they want to give to alleviate poverty. Explaining the difference between the eNaira and the internet banking services offered by banks, Koyor pointed to the speed of transaction settlement and that there are no charges. [Read more]
Crypto Critic Nouriel Roubini Is Working on a Tokenized Dollar Replacement
Atlas Capital Team LP is working to develop a suite of financial products including a tokenized asset backed by real assets — a mix of short-term U.S. Treasuries, gold and U.S. property that’s expected to be less affected by climate change. The plan is to build an index and offer total return swaps to large investors, before expanding to an exchange-traded fund and eventually offering a tokenized version. Chief Economist Nouriel Roubini said that a tokenized security will create a “digital rail” to reach a larger swath of people without access to stable currencies. [Read more]
Upcoming events I’m affiliated with:
Satoshi Capital Advisors is hosting a virtual workshop on wholesale CBDC, stablecoins and digital capital markets on May 24 (starting at 08:00 EST). [Register here with the passcode: CBDC]
The CBDC Think Tank is hosting a CBDC Papers Lecture Series on June 17 and 24, each session starting at 7am EST and running for 3 hours. [View list of papers and register here]